The first quarter results of the worlds most popular online search engine reveal that even the slowing US economy does not have an adverse effect on its revenue. Google was up by a 30% in the first quarter compared to last year as its first quarter profits rose to $1.31bn.
It was courtesy of the innovation in search, ads and applications that increased the earnings for Google as per CEO Eric Schmidt. Incidentally it is also for the first time that the company has managed to have more sales abroad with 51%, a partial reason for which was the slump in the dollar value eventually increasing the value of the earnings outside the US. This news has also given a breather to the Google officials who were worried of deteriorating sales on account of slowdown in online advertising. Google is currently the fifth biggest company in the US by market capitalisation.
With the US economy on a further downswing it would be interesting to see how the sales report for the second quarter shape up for Google. Considering the present slump not really affecting them, it could see a further rise in profits in the next quarter ending in June.
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